Looking Ahead to 2019: Your Staffing Plan for the Year

Staffing Industry Analysts found that the United States temporary staffing market is projected to grow three percent this year and another three percent in 2019, ultimately reaching $131 billion in revenue. With that much money coming out of this particular market, it’s more important than ever to make sure that your agency is taking the proper steps to grow and remain secure. The growth is great but with stagnation in the hiring of qualified employees, it’s needed to plan ahead to avoid a problematic new year.

How to Plan Ahead Accordingly

There’s a lot that goes into yearly staffing planning, making it a complicated time to handle. It’s definitely more than just looking at what your company needs for the next year as far as candidates go. It’s requires these key things to work out properly:

Analyze yearly business goals. The first thing you need to do in order to properly plan for the new year is look at your short-term and long-term goals. Figure out how you’re going to achieve what you want in 2019. Once you identify your goals, it’ll be that much easier to get them done. You’ll be able to prepare and get the resources you need for a successful year.

Define your current state. Look at where your staffing agency is now, both in hires and their skills. Look at full-time, part-time and contract workers and really analyze your current situation. Evaluate whether there’s going to be any drastic changes in the future.

Identify any existing or potential gaps. This is where you figure out where your staffing agency is lacking. If you’re having problems with skills, staffing inadequacies or qualification deficiencies, make sure you identify those problems and address them in 2019. You can also think about this in terms of your staffing insurance coverage: are there any gaps in coverage? One way to ensure that you will thrive in the new year is ensuring that you have all of the necessary coverage for any possible liabilities.

Create staffing projections. You’re not just looking to determine roles, skills and expertise for your business objective. There’s more that goes into staffing planning than that. You also need to project how long it’s going to take you to fill those gaps. The interview process takes about 23 days and if you can’t fill that position in a month, expect things to go stagnant for a few months minimum. It’s important to consider how many people you’re going to hire, how long it’ll take to get them up to speed and when they’ll become a productive member of your agency. Consider technology, additional training, budget and support for your future goals as well.

Partner with a staffing agency – If you’re an agency that’s just starting out, you can often turn to guidance from another staffing agency. It’s the best way to find a formula to start off a staffing plan.

From all of us at World Wide Specialty Programs, we’d like to wish you a happy New Year. We can’t wait to see what 2019 holds!

About World Wide Specialty Programs

For the last 50 years, World Wide Specialty Programs has dedicated itself to providing the optimal products and solutions for the staffing industry. As the only insurance firm to be an ASA commercial liability partner, we are committed to that partnership and committed to using our knowledge of the industry to provide staffing firms with the best possible coverage. For more information about Staffing Professional Liability Insurance or any other coverage, we have available to protect your staffing business, give us a call at (800) 245-9653 to speak with one of our representatives.